SACM chairs meeting regarding Prospecting License acquisition

Peshawar   -   PESHAWAR: Special Assistant to Chief Minister Khyber Pakhtunkhwa on Industries, Commerce & Technical Education Abdul Karim Tordher chaired a meeting regarding Prospecting License (PL) acquisition of a Canadian Firm Tytan Copper and Pana Copper in Minerals sector of KP held in the office of Khyber Pakhtunkhwa Board of Investment & Trade (KP-BOIT).

Nabeel Saqib, Country CEO Tytan Copper gave a detailed presentation regarding investment plan, leases acquisition status and hurdles pertaining to PL lease acquisition.

The SACM directed KP-BOIT to facilitate FDI worth 50m USD by Tytan Copper and Pana Copper with enthusiasm as the order of the day. The Minister requested the Canadian firm to suggest international best practices to be adopted here in KP (Specifically adopted in neighbouring countries) which causes delay and not time bound. The Minister also directed KP-BOIT to point out issues, regulation and laws related to overlapping in mining leases in different area of KP that mostly causes stumbling of economic activity in the region.

He also stated that KP-BOIT team and representatives of Minerals Development Department (MDD) to ensure progress updates of each Lease title applied by the Canadian Firms, issues therein, and a way forward be drawn to present the case to the Apex committee of Government for issuance of work order and committed lifting ban on conventional lease titles as a special case for FDI.

The chair also assured full support in facilitation to be provided by the Khyber Pakhtunkhwa government and also appreciated KP-BOIT performance and assured of all possible cooperation from this platform.

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